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5 <br />RESOLUTION AUTHORIZING INVESTMENT <br />OF CITY OF EVERETT MONIES IN THE <br />LOCAL GOVERNMENT INVESTMENT POOL <br />WHEREAS, pursuant to Chapter 294, Laws of 1986, the Legislature created a trust fund <br />to be known as the public funds investment account (commonly referred to as the Local <br />Government Investment Pool (LGIP)) for the contribution and withdrawal of money by <br />an authorized governmental entity for purposes of investment by the Office of the State <br />Treasurer; and <br />WHEREAS, from time to time it may be advantageous to the authorized governmental <br />entity, City of Everett, the "governmental entity", to contribute funds available for <br />investment in the LGIP; and <br />WHEREAS, the investment strategy for the LGIP is set forth in its policies and <br />procedures; and <br />WHEREAS, any contributions or withdrawals to or from the LGIP made on behalf of <br />the governmental entity shall be first duly authorized by the Everett City Council, the <br />"governing body," or any designee of the governing body pursuant to this resolution or <br />a subsequent resolution; and <br />WHEREAS the governmental entity will cause to be filed a certified copy of said <br />resolution with the Office of the State Treasurer; and <br />WHEREAS the governing body and any designee appointed by the governing body <br />with authority to contribute or withdraw funds of the governmental entity has received <br />and read a copy of the prospectus and understands the risks and limitations of <br />investing in the LGIP; and <br />WHEREAS, the governing body attests by the signature of its members that it is duly <br />authorized and empowered to enter into this agreement, to direct the. contribution or <br />withdrawal of governmental entity monies, and to delegate certain authority to make <br />adjustments to the incorporated transactional forms, to the individuals designated <br />herein. <br />16 <br />Updated 2013 <br />